Can I retire at age 62 with 615,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $615,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%13.5%
1 years$50,786$50,334$49,892$49,462$49,041$48,328
2 years$25,142$24,673$24,220$23,780$23,353$22,636
3 years$16,595$16,124$15,672$15,236$14,816$14,118
4 years$12,322$11,853$11,405$10,977$10,567$9,892
5 years$9,759$9,293$8,851$8,431$8,033$7,384
6 years$8,051$7,588$7,153$6,742$6,356$5,734
7 years$6,831$6,373$5,944$5,543$5,169$4,574
8 years$5,917$5,463$5,041$4,650$4,288$3,720
9 years$5,206$4,756$4,342$3,961$3,611$3,069
10 years$4,638$4,192$3,785$3,414$3,077$2,561
11 years$4,173$3,732$3,332$2,971$2,646$2,156
12 years$3,787$3,350$2,957$2,606$2,293$1,827
13 years$3,459$3,027$2,642$2,301$2,000$1,558
14 years$3,179$2,752$2,374$2,043$1,753$1,335
15 years$2,937$2,514$2,144$1,822$1,544$1,148
16 years$2,725$2,306$1,943$1,631$1,364$991
17 years$2,538$2,124$1,768$1,466$1,210$857
18 years$2,372$1,963$1,614$1,321$1,075$744
19 years$2,224$1,819$1,478$1,193$959$647
20 years$2,090$1,690$1,356$1,081$856$563
21 years$1,970$1,574$1,248$981$766$491
22 years$1,860$1,470$1,150$892$687$429
23 years$1,761$1,375$1,062$812$617$375
24 years$1,669$1,288$982$741$554$328
25 years$1,586$1,209$909$677$499$287
26 years$1,508$1,136$843$619$449$252
27 years$1,437$1,069$783$566$405$221
28 years$1,371$1,007$728$519$365$194
29 years$1,309$950$678$476$330$170
30 years$1,252$897$631$437$298$149
31 years$1,198$848$588$401$270$131
32 years$1,148$803$549$369$244$115
33 years$1,101$760$513$339$221$101
34 years$1,057$721$479$312$200$89
35 years$1,016$683$448$287$181$79
36 years$977$649$419$264$164$69
37 years$940$616$392$244$149$61
38 years$905$585$367$225$135$53
39 years$872$557$344$207$122$47
40 years$841$530$322$191$111$41
41 years$811$504$302$176$101$36
42 years$783$480$284$163$91$32
43 years$756$458$266$150$83$28
44 years$731$436$250$139$75$25
45 years$706$416$235$128$68$22
46 years$683$397$220$118$62$19
47 years$661$379$207$109$56$17
48 years$640$361$194$101$51$15
49 years$620$345$183$93$46$13
50 years$600$330$172$86$42$12

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 62 starting with $615,000, adding $5,557 every year, while hoping to spend $37,335 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 66/21/13 Blend
61$615,000$615,000$615,000$615,000
62$683,462$650,867$641,335$726,172
63$713,451$643,035$623,095$747,533
64$745,248$633,569$602,993$765,976
65$778,997$622,347$580,927$785,192
66$814,857$609,245$556,791$805,253
67$853,001$594,127$530,473$826,243
68$893,620$576,852$501,856$848,251
69$936,920$557,269$470,819$871,380
70$983,130$535,219$437,236$895,744
71$1,032,499$510,534$400,973$921,468
72$1,085,300$483,036$361,891$948,694
73$1,141,832$452,536$319,846$977,579
74$1,202,424$418,836$274,686$1,008,297
75$1,267,436$381,724$226,253$1,041,044
76$1,337,264$340,978$174,382$1,076,035
77$1,412,342$296,362$118,901$1,113,511
78$1,493,146$247,630$59,629$1,153,741
79$1,580,200$194,516$0$1,197,022
80$1,674,077$136,745$0$1,244,188
81$1,775,411$74,023$0$1,303,961
82$1,884,893$6,040$0$1,368,500
83$2,003,287$0$0$1,438,285
84$2,131,431$0$0$1,529,456
85$2,270,245$0$0$1,629,764
86$2,420,742$0$0$1,738,549
87$2,584,037$0$0$1,856,620
88$2,761,353$0$0$1,984,867
89$2,954,039$0$0$2,124,271
90$3,163,576$0$0$2,275,907
91$3,391,595$0$0$2,440,962
92$3,639,890$0$0$2,620,738
93$3,910,435$0$0$2,816,672
94$4,205,403$0$0$3,030,343
95$4,527,185$0$0$3,263,489
96$4,878,413$0$0$3,518,024
97$5,261,984$0$0$3,796,053
98$5,681,087$0$0$4,099,896
99$6,139,234$0$0$4,432,105
100$6,640,290$0$0$4,795,491